Indian Stock Market

Andhra Pradesh, one of the leading cotton growing States in the country, is expected to grow the crop on 11.80 lakh hectares 200910 as against Rs 13.98 lakh ha last year.

KRChoksey has come out with its earning estimates on IT Sector for the quarter ended June 2009. According to the research firm, 3i Infotech\’ June quarter sales are expected to go down by 2% to Rs 618 crore on QoQ basis.

The Economic Survey has suggested major reforms for the telecom sector including auctioning spectrum for mobile services.

Hostile and unsolicited takeover offers in June hit their highest level in more than three years as companies with strong balance sheets and resilient stock prices went on the offensive to make acquisitions.

“It was a volatile session, as you would expect two days before the budget, but ends flat. The Nifty ended unchanged virtually at 4350,” Udayan Mukherjee said.

Can the government actually walk the talk when it comes to delivering the goods in the Union Budget 200910?
In an exclusive discussion on CNBCTV18, Atsi Sheth, Chief Economist, Reliance Equities; Jehangir Aziz, Chief Economist, JPMorgan; Ajit Ranade, Chief Economist, Aditya Birla Group; discuss.

Arvind Virmani, Chief Economic Advisor said India\’s growth rate should not be less than 6.25%. On the economic survey that was announced today, Virmani said, “I would say that if at the end of fiveyears perhaps let us say 50% of the things which are mentioned I would be very happy as somebody who wrote or led the team.\”

Will it be an allout populist budget cutting fares with abandon thanks again to the leeway provided by the profitability the railways earned over the last few years? Or will she concentrate on growth and take it from where her predecessor left off?

Bimal Jalan, Former RBI Governor said that the Indian economy today is much better than it was 36 months ago as there is return of confidence in the economy. Jalan said that India should not be so dependent on the services sector and the manufacturing segment is something that the Indian government should be promoting.

Laxey Partners have sold its 11.63% stake in Hirco. It sold 8 million shares at the market price 95 pence as it traded yesterday. Sources say the shares were sold to Halbis Capital, part of the HSBC Group.